So, my neighbor's listed their house for sale about 2 weeks ago and I feel like I'm watching a train wreck in slow motion. I am not the listing agent and I am more than okay with it. Although I do have the neighborhood advantage and could market this to the nth degree .. it's just well, a little too close to home and I know too much - too much as in obligated to disclose.
I've been the helpful neighbor for a few months, dishing out advice like no other, providing market updates and even doing a bit of yard work, all the while being fully aware that this is not going to be my listing. It is, however, in my best interest that my neighbor's home sells quickly and for top dollar.
It's not going to happen ... I'm watching all the things that are being done, or rather not done, and it's just turning my stomach. I'm watching a train wreck in slow motion and as much as I want to throw myself onto the tracks to stop it .. I can't do anything about it.
There's the oops paint in the bedrooms, the lawn full of weeds, the giant hole on the side of the front step skillfully hidden by a freshly planted Hosta, the front door that has been painted a color like something you would find in a baby's diaper (that was the nicest analogy I could think of) and all the closet doors are stained nicotine yellow. Which buyer doesn't find that appealing.
The pictures are plentiful but only 3 are decent. There's no picture of the newly remodeled kitchen but the upstairs toilet is featured prominently. The A/C and heat pump are marketed as new although they are at least 5 years old. There is a fireplace in the basement but the listing states "0" for number of fireplaces. There's no neighborhood description, no mentioning of the outstanding school district ... "marketing" seems to be limited to the Multiple Listing Service.
It's very obvious that none of my advice was followed.. except the original list price - which was just dropped by 5K today! I wonder why! [insert sarcasm mixed with disbelief here] I understand the truth is hard to take sometimes especially when it comes in form of a long list of suggestions provided by a stranger ... It's nothing personal though, it's business - the truth will get your home SOLD!
What can I do? I can't force anyone to listen. At this stage in the game my hands are tied and I'm about to put the blindfolds on as well because this train wreck in slow motion is just too painful to watch!
It sounds like any new neigbors you get will better than the ones that live there now and when they move in the neighborhood will be a better place.
Sounds like to me your were blessed not to get this listing! Congrats on the feature.
So many FSBOs think that all they have to do is take a few pictures and slap the listing on the MLS to sell a home. That's true, in a hot market, most of the time. But, when not everything sells, it takes a bit more to market and sell. They'll learn the hard way and hopefully call you to list.
Hi Andrea, although we do wonder why, most of the time it seems that not being the listing agent for your neighbor's house is often a blessing in disguise. At least now you can refer all their questions back to their agent!
Hi Andrea, I guess we all have this situation sooner or later. In my case I suggested a list of $850k but the seller knew more about real estate than me ( !!! ) wanted to list at $975k. Update: 4 years later - called me to list house - market now barely supports $425k. Not going to be pretty !
Raj, thank you for your kind words. I enjoy helping .. When it comes to my neighborhood I feel that it benefits everybody.. so when another neighbor wanted to add curb appeal but didn't know how to go about it, I got my gloves on and got to work.
Hi Select Realty Group, it's hard to watch! I would love to call the agent and point out some mistakes and advice about the neighborhood assets .. but I know that it's not welcome.
Hi Michelle, it would be great but I'm not going to get my hopes up. Finding a new neighbor for myself is another tricky situation .. unfortunately, all my friends already own or live too far away :-)
Hi Janis, it's a delicate balancing act. At least your neighbor ended up listening!
Hi Phil, what gave it away? ;-)
Hi Debbie, great suggestion. I might do just that ...
Hi Richard, somewhere else in the neighborhood I could handle but this one is just too close. If only they had listened to half of my suggestions ..
Hi Amada, you got a point! Thank you, I hope so, too!
Hi Wayne and Jean Marie, those are just so tough to watch... you so want to jump in and help, but can't.
Hi Mike, I def. know too much .. I would have loved to refer them to a professional who knows how to get the job done.
Hi Kim, I'm afraid this is what's going to happen here, too. They'll keep dropping the price until it is sold. If they had just done some of the things I suggested and the home was properly marketed, a price drop would not be necessary!
Hi John, I try hard not to check on the listing every day .. it's very tempting but so aggravating. I avoid looking at their home when I come and go.
Andrea,
Kudos to you for the help you've provided especially hands on knowing you are not handling the listing. It's a tough thing to have other signs in the neighborhood and no fun when it's next door. The house next door has been on the market for 20 months with probably less than 10 showings. Yup, priced in the stratosphere.
It's an estate owned home that is paid for. The son keeps coming over and working on things and seems to have no real interest in selling it unless he gets his price. I smile and wave and am THRILLED not to be the listing agent.
I'd rather be the agent that folks know will actually sell their home:-)
At this point, I'm expecting it will be on the market 3-5 years since he's still 125k high and most buyers even in a slightly stronger market are not feeling that generous.
All the best, Michelle
Drives me crazy when I see this and I know I can help them. Oh well, may it sell anyway so you don't have to keep watching this train wreck! I love that, "The Truth Will Get Your Home Sold!" Sigh....
Andrea:
I am sure we have all been the exact situation you are in. There are many people who are willing to take advantage of us and don't even extend the courtesy of letting us compete for their listing. Let alone listing the home with another agent and not telling us that they have done so.
Hi Christiansens: The fire engine red sounds not too bad to me right about now but I'm comparing it to a color like the contents of a diaper. Wanna trade? :-)
Hi Joan, I do know a lot that I would have had to disclose since obviously it didn't get addressed.
Hi Brian, I cannot possibly imagine ;-)
Hi Beth, I could not have taken the listing but I would have loved to refer them to a professional. I helped because that's just what I do but having great looking homes around us is obviously also important for us.
Hi Michael, I'm not complaining that they didn't list with me. I do not want that listing because I do know too much of their personal stuff. I'm not trying to find fault where there is none. I would have been thrilled if a professional had listed it. There are mistakes in the listing, the pictures are bad - I cannot believe that this happened at the directive of the seller. To top it off, the home is not being marketed - no open houses, no mailings, no eflyers .. This all is costing them money which is bad for my value, too. I have a problem with that.
Hi Harry, agree with your first statement but you lost me on the 2nd.
Hi Richie, it's a good example of "How not to sell your house"!
Hi Chris & Dick, I agree with you, it's a little too close for comfort.
Hi Susan, yes indeed! *fingers crossed*
Hi Bryan, that's the sad part ... it's listed with an agent now!
Hi Silvia, it is a blessing! I was happy to help b/c I know how a nice sale will benefit us, too ..
Hi Bill, *ouch*!
Hi Michelle, I don't mind helping out one bit. I frequently get my gloves and tools and help neighbors with their yard. A nice block and maintained homes is good for all of us. I'm afraid they'll just drop the price a couple more times and sell ...
Hi Andrew, obviously :-)
Hi Jean, had they considered some of my advice and hired a professional.. then yes!
Hi Brenda, I'll join you in that sigh ..
Hi Evelyn, it's fine. I knew this was not going to be my listing but I hoped that they would follow some of my advice which would have been good for our block .. it didn't work out that way.
What a story. You are obviously in a tough spot Andrea, but I would stay as far away as possible.
Years ago I had a wise agent in Denver tell me never to list on my own street...still is great advice. But to see the mis-steps happening next door would cause my big mouth to start running over to the neighbors and say "HEY...What the heck are you doing?" Good Luck!!
Hi Sheila, I'm planning on it ...
Hi Mike, thanks! That's pretty much exactly how I feel ..
Hi Karen, exactly. I just couldn't do it with none of my advice being followed ... I hope so!
Hi Paul, it does, doesn't it?
Thanks for your comments!
Hi Andrea, I came over from Fred Griffin's re-blog. I feel your pain. We have 2 homes in our neighborhood that we've previously sold that are stagnating in a hot market. I suggested to one neighbor a few months ago that I thought they were over priced when she told me they had no showings. She was upset with my comment, so I stayed out of it. We just do what we do best for those who hire us and watch the rest.
bring a buyer with full reality and make a realistic offer and see what their true motivation is
Oh I am there right now. My neighbors house is on the market but fortunately it is with a great agent also raised in the neighborhood. The house is aged here too and could use some updates to bring a strong buyer. But it is now what it is and I cant say anything. I feel for this agent as I could not deal with the famiy dynamics I know about this seller family.. I wish her the best. In your case my fear is what kind of person is going to out there to buy such a home.. you could get an "interesting neighbor" out of all this.
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